The Macau Metro Monitor, March 22, 2013
FEBRUARY VISITOR ARRIVALS DSEC
Attributed to Lunar New Year, visitor arrivals increased by 11.5% YoY to 2,376,840. Mainland visitors totaled 1,508,599 (+17.4% YoY) with 754,692 traveling to Macau under the Individual Visit Scheme. The average length of stay of visitors stood at 0.9 day.
SANDS 'TO APPLY' FOR COTAI CENTRAL COMPLETION EXTENSION Macau Business
LVS says it “expects to apply” to the Macau government for an extension of the May 2014 deadline it was set by the government for completing Sands Cotai Central casino resort on Cotai. This will be the third time it has asked for more time for its Cotai project. Sands included the deadline news in its 2012 annual report published yesterday.
The government originally gave the company a May 2014 deadline – 48 months from the date the relevant Cotai land concession became effective – to complete Sands Cotai Central. The property is expected to cost at least US$4.2 billion (MOP33.58 billion) when finished.
MGM CHINA CEO SAYS 2013 VIP MARKET TO GROW UP TO 10% Macau Business
MGM China’s CEO Grant Bowie expects Macau’s 2013 VIP market to grow by between 8-10%. Bowie forecasts mass-market casino revenue to grow in the “mid to high teens” on a percentage basis. He added that March casino revenue is “pretty solid”.